L Catterton, a consumer-focused private investment firm, agreed to buy hot sauce distributor The Cholula Food Co. Inc.

The transaction, the terms of which were not disclosed, is subject to customary approvals and closing conditions, including antitrust approval. L Catterton's Flagship Buyout Fund and L Catterton Latin America collaborated on the deal.

Kirkland & Ellis, Creel McKinsey & Co., PwC and Alvarez & Marsal provided advice to L Catterton. VACE Partners was Cholula's financial adviser, and Cravath Swaine & Moore served as its legal adviser.